Course Information

Microeconomics is the study of how rational (that is, utility-maximizing) agents
behave. By analyzing economic situations through the lens of utility-maximizing agents, we will study
the behavior of consumers, producing firms, and markets:

The study of how a single rational agent behaves leads to the analysis of consumer and firm
behavior.

If there are very many agents who individually have little ability to change market conditions
through their actions, this leads us to the (partial equilibrium) analysis of supply and demand,
the analysis of market interventions, and general equilibrium.

If there are a few agents who behave strategically, i.e. take the effects of their actions on other
agents into account when making their decision, this leads to the subject of game theory with
applications in oligopolies and asymmetric information.

The language of instruction for this course is English.

Prerequisites: This course will use basic algebra (e.g. finding the intersection point of two lines) heavily. There will be some parts that will require solving a maximization problem with derivatives; I will review the mathematics needed.

Textbooks and Learning Resources

The primary textbook for the first half of the course is Microeconomics by Pindyck & Rubinfeld. Any recent edition will be sufficient for the course; there is little change in the core material between editions.